Mixed Feelings about Sale of Landsvirkjun Skip to content

Mixed Feelings about Sale of Landsvirkjun

By Iceland Review

Reykjavík City Council want to sell their share of the National Power Company, Landsvirkun, to the State by the end of the year, preferably in the fall. Discussions about this have happened before, but they were abandoned due to disagreement within the council. However, since then the balance of power in the council has changed, and the Mayor, Vilhjálmur Th. Vihjálmsson from the Independence Party, is the one who is pushing for the sale to be completed as early as possible. Reykjavík City Council currently has a 45% share in the company, while the State owns 50% and Akureyri town council 5%.

However, Agriculture Minister Gudni Ágústsson is against the idea of the sale. He says if Landsvirkjun is to be sold, it must be put on the international market and that will mean that foreigners can buy into the company. He says that foreigners will thereby gain access to Icelandic nature.

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